Mapletree Logistics Trust Acquires Modern Logistics Facility In South Korea

October 21, 2021 – Mapletree Logistics Trust announced its proposed acquisition of Yeoju Logistics Centre in South Korea.

Ms Ng Kiat, Chief Executive Officer of the Manager, said, “The pandemic has accelerated e-commerce growth and the demand for modern logistics space. With its high specifications and strategic location, this two year-old facility will position us well to capture the market growth.”

This acquisition will expand MLT’s network presence in the Seoul Metropolitan Area to 19 assets, demonstrating our continued commitment to support our customers with a variety of high quality leasing solutions.”

The proposed acquisition price is set at KRW135 billion (S$153.8 million) (US$110 million).

The property features two blocks of 3-storey dry warehouses that were completed in 2019. It has 70,400 square metres in total gross floor area and approximately 56,200 sqm of freehold land.

Read more here..

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